The Charles Schwab Corporation (NYSE:SCHW) EVP Joseph R. Martinetto sold 115,642 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $42.10, for a total value of $4,868,528.20. Following the sale, the executive vice president now owns 210,868 shares in the company, valued at $8,877,542.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
The Charles Schwab Corporation (SCHW) traded up 0.02% during trading on Friday, reaching $42.15. The company’s stock had a trading volume of 7,452,411 shares. The Charles Schwab Corporation has a 1-year low of $27.71 and a 1-year high of $44.10. The stock has a market cap of $56.36 billion, a P/E ratio of 29.89 and a beta of 1.64. The company’s 50 day moving average price is $41.99 and its 200-day moving average price is $40.89.
The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company posted $0.30 EPS. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts forecast that The Charles Schwab Corporation will post $1.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. The Charles Schwab Corporation’s payout ratio is 21.48%.
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Several institutional investors have recently modified their holdings of SCHW. WealthTrust Arizona LLC raised its position in shares of The Charles Schwab Corporation by 1.2% in the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after buying an additional 29 shares during the last quarter. Insight Capital Research & Management Inc. raised its position in shares of The Charles Schwab Corporation by 21.3% in the second quarter. Insight Capital Research & Management Inc. now owns 44,024 shares of the financial services provider’s stock valued at $1,891,000 after buying an additional 7,741 shares during the last quarter. Huntington National Bank raised its position in shares of The Charles Schwab Corporation by 62.9% in the second quarter. Huntington National Bank now owns 5,841 shares of the financial services provider’s stock valued at $251,000 after buying an additional 2,256 shares during the last quarter. Mizuho Securities USA LLC acquired a new position in shares of The Charles Schwab Corporation during the second quarter valued at about $6,294,000. Finally, Asset Advisors Corp raised its position in shares of The Charles Schwab Corporation by 0.9% in the second quarter. Asset Advisors Corp now owns 169,600 shares of the financial services provider’s stock valued at $7,286,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 79.02% of the company’s stock.
A number of analysts have recently issued reports on SCHW shares. Citigroup Inc. restated a “buy” rating and set a $43.00 price objective (down from $45.00) on shares of The Charles Schwab Corporation in a research report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $44.00 price objective on The Charles Schwab Corporation and gave the company a “buy” rating in a research report on Monday, April 10th. Deutsche Bank AG lowered their price objective on The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, April 24th. Wells Fargo & Company restated a “market perform” rating and set a $44.00 price objective (up from $42.00) on shares of The Charles Schwab Corporation in a research report on Monday, June 12th. Finally, Morgan Stanley restated an “overweight” rating and set a $48.00 price objective (up from $45.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 10th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The Charles Schwab Corporation has an average rating of “Buy” and a consensus target price of $44.00.
The Charles Schwab Corporation Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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